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Vikram Solar has disputed Isitva Steels’ claim of about ?9.44 crore, which includes interest of about ?4.21 crore View More

These zones will also handle implementation of battery energy storage system projects, and solar projects such as PM-Kusum and PM rooftop solar View More

SpaceX's first few days of trading have been filled with superlatives, from trading volume to the size of the company's first acquisition. View More

In this articleSPCXFollow your favorite stocksCREATE FREE ACCOUNT A live feed shows SpaceX CEO Elon Musk on the day of SpaceX's initial public offering (IPO) at the Nasdaq MarketSite, in New York City, U.S., June 12, 2026. Jeenah Moon | Reuters Since SpaceX's record-breaking IPO late last week, Elon Musk's second trillion-dollar company has been the talk of Wall Street. From Musk becoming the world's first trillionaire to SpaceX moving ahead with a $60 billion acquisition shortly after hitting the market, the first few days of trading have defied norms at every turn.There are too many eyepopping numbers to count, but here are a few that stand out:Historic volumeSpaceX saw record-smashing trading volumes in its first few days as a public company.On Friday, its first day on the market, SpaceX saw $85 billion dollars worth of shares trade hands. Nearly $46 billion of shares traded on Monday, followed by almost $68 billion on Tuesday, averaging out to $66 billion in the first 3 days.That's more trading than what took place in popular exchange-traded funds QQQ and SPY, which averaged $33 billion and $46 billion, respectively, over that stretch. Meanwhile, Nvidia, the world's most-valuable company, saw dollar volume averages of around $27 billion, more than double Apple at $12 billion.As for other tech IPOs, Cerebras recorded average dollar volumes of a little more than $6 billion in its first three days of trading. Facebook saw $23 billion worth of shares trade hands on its opening day and an average of $11 billion over its first three. Funds raised in IPOSpaceX initially raised $75 billion in its offering, making it more than twice the size of the biggest IPO ever before it. Oil producer Saudi Aramco raised $25.6 billion in 2019, with that number increasing to $29.4 billion when underwriters exercised their so-called greenshoe option. And China's Alibaba reeled in a total of $25 billion, including the underwriter overallotment. SpaceX's greenshoe allotment brought in a whopping $10.7 billion. That amount alone is greater than just about any tech IPO to date. Uber, for example, raised $8.1 billion in 2019, and chipmaker Cerebras raised $6.4 billion last month. Facebook held the largest IPO for a U.S. tech company prior to SpaceX, raising a total of $18.4 billion, including the greenshoe option, in 2012. . SpaceX staff wore green shoes on the trading floor Friday in a nod to the underwriters' option. World's first trillionaire watch nowVIDEO1:3201:32Elon Musk becomes the world's first trillionaire with SpaceX debutHalftime Report SpaceX's IPO turned Musk into the world's first trillionaire. Musk owns about 46% of SpaceX's shares, a stake worth over $1 trillion, and retains voting control of around 82% of shares. Musk's Tesla stake is worth hundreds of billions of dollars more. The next-wealthiest people in the world are Google co-founders Larry Page and Sergey Brin, each worth close to $300 billion, according to Forbes. They're followed by several other tech founders — Amazon's Jeff Bezos, Michael Dell, Oracle's Larry Ellison, Meta's Mark Zuckerberg and Nvidia's Jensen Huang. Musk's fortunes don't sit well with everyone. Progressive politicians, including Vermont Senator Bernie Sanders, Massachusetts Senator Elizabeth Warren and New York City Mayor Zohran Mamdani used the occasion to remind the public of the vast wealth inequalities in the U.S. and the struggles average Americans face with today's rising inflation.For some investors, the problem is SpaceX's governance. Anders Schelde, chief investment officer of Danish pension fund AkademikerPension, told CNBC that the fund wasn't buying SpaceX shares because "we cannot make the numbers work at the current valuation, and we believe its governance standards are very weak from a minority shareholder perspective."Other groups have protested the SpaceX IPO, citing issues including Musk's politics and incendiary rhetoric, the company's poor track record with artificial intelligence safety, and environmental concerns tied to rocket launches and massive data centers. Launching past Amazon watch nowVIDEO4:4804:48How options traders can play SpaceX if they missed out on the IPOOptions Action SpaceX shares skyrocketed out of the gate, quickly putting the company among the most valuable on the planet.Its market cap climbed above Amazon's on Tuesday, closing at $2.66 trillion that day. SpaceX even briefly surpassed Microsoft, before slipping back below the software giant. Fundamentals tell a very different story. Amazon did 38 times more revenue than SpaceX last year, generating almost as much in sales every week as Musk's company pulled in all year.Amazon's online ad business alone recorded almost as much revenue in the fourth quarter as SpaceX did all last year. Even Amazon's subscription services business is more than twice the size of SpaceX by revenue.As for actually making money, Amazon's net income for the year of close to $78 billion was more than quadruple SpaceX's revenue. SpaceX is losing billions of dollars a year. M&AWithin days of its IPO, SpaceX entered a formal agreement to acquire AI-coding startup Cursor for $60 billion in stock. The deal was first announced in April, but there was still a chance it wouldn't take place. The transaction is expected to close in the third quarter, and marks one of the largest tech acquisitions on record.SpaceX previously merged with xAI, Musk's AI company, in a deal that valued the combined entity at $1.25 trillion.Excluding the SpaceX-xAI deal, there have only ever been three acquisitions above $60 billion involving a U.S. tech company as the buyer, according to FactSet. The largest was Broadcom's $69 billion purchase of VMware in 2023, followed by Microsoft's purchase of Activision Blizzard for close to that amount the same year. The third biggest was Dell's purchase of EMC for about $67 billion in 2016.Among the other tech megacaps, the biggest deals include Google's purchase of Wiz for $32 billion in 2025, Facebok's purchase of WhatsApp in 2014 for $19 billion and Amazon's acquisition of Whole Foods for $13.7 billion in 2017. In the waning days of 2025, Nvidia purchased assets from chip startup Groq for $20 billion. As for Tesla, Musk's other public company, the biggest acquisition came in 2016, when the electric vehicle maker spent $2.6 billion on SolarCity, a solar installer that was founded and run Musk's cousins Peter and Lyndon Rive. Musk served as chairman and was its largest investor. —CNBC's Robert Hum contributed to this report. WATCH: SpaceX investor says, 'It's been a great and wild ride' watch nowVIDEO3:1403:14Early SpaceX investor Christian Garrett: 'It's been a great and wild ride'Squawk on the Street Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.

CTA Apparels is embracing automation and vertical integration to enhance speed, transparency, and traceability. This shift positions them as systems-driven partners for global fashion brands. Investments in technology and sustainability are key to their future growth and competitiveness in the global market. View More

Inside CTA Apparels ’ manufacturing unit in Sector 63, Noida, the factory floor goes beyond scale; it reflects a shift in how India’s garment exporters are rethinking production. On a recent visit, what stood was not just the movement of fabric and finished garments but the way the entire operation is managed through automated systems, rather than manual supervision. Rolls of fabric are moved seamlessly from inspection to cutting, ensuring minimal handling. Large sections of the floor are organised around centralised processes instead of fragmented lines. Operators work alongside screens tracking performance in real time, while supervisors monitor output through digital dashboards. There is a visible attempt to reduce friction at every stage, whether in material routing, early defect detection, or workflow design aimed at minimising idle time. The facility does not resemble a traditional labour-intensive export unit; instead, it operates as a controlled production environment built for predictability. “The idea is to move from being a manufacturing vendor to becoming a systems-driven partner for global brands,” says Shivansh Kansal, Vice President (Strategy) at CTA Apparels. “Today, speed, transparency, and traceability matter as much as cost.” That shift is not limited to this unit alone. It reflects a broader transformation underway at CTA Apparels, as the Noida-based exporter builds a vertically integrated, technology-enabled manufacturing ecosystem aligned with evolving global fashion supply chains. Live Events A business built on control and precision Mukesh Kansal, Shivansh’s father, started CTA Apparel in 1993, when India’s garment exports were largely driven by small, disconnected manufacturing units. Over the years, the company has steadily expanded its capabilities, moving beyond basic garment production to build a fully integrated textile and apparel ecosystem. For the younger Kansal, whose education in Switzerland exposed him to global business practices, the objective now is not merely to grow the company but to build an Indian apparel manufacturer that can match the operational excellence and scale of the world's leading suppliers. CTA Apparels operates in India’s highly competitive apparel export sector, where it competes with a mix of large integrated exporters and regional garment manufacturing clusters supplying global fashion brands. The company says its key competitors in the broader export-oriented apparel segment include companies such as Gokaldas Exports , Pearl Global Industries, KPR Mill and several Noida- and Tiruppur-based export houses. What distinguishes CTA from others is the extent of that integration, says Shivansh. Instead of relying on external vendors for fabric, processing, and finishing, the company has brought nearly every stage of the value chain in-house. Fabric is sourced and processed internally; it undergoes pre-treatment processes, such as singeing and mercerising, moves through dyeing and printing units, and is then converted into finished garments within the same controlled ecosystem. This approach has allowed CTA to scale without losing operational control, he explains. The company now employs more than 5,000 professionals and operates over 2,000 machines, reflecting both its manufacturing depth and its evolution into a large, structured exporter. This scale-up is mirrored in its financial trajectory, with CTA’s revenue from operations rising from Rs 335 crore in FY24 to Rs 374 crore in FY25, and Rs 447 crore in FY26, indicating a steady acceleration in growth. “My father built the business on strong fundamentals: quality, discipline, and financial prudence. What we are adding now is technology and global alignment,” emphasises Shivansh. The textile backbone that powers it all Much of CTA’s operational strength is derived not just from its garment units but also from its textile processing plant in Pilkhuwa, Uttar Pradesh . Located near its Noida facilities, the plant ensures that smooth flows of fabric into garment production, minimising logistical delays, facilitating quicker turnaround times and more precise scheduling. Inside the facility, scale and sophistication go hand in hand. The plant processes up to 100,000 meters of woven fabric daily and around 7,500 kg of knitted fabric, moving them through advanced pre-processing, dyeing, printing, and finishing systems that meet global quality standards. With a 125,000 sq. ft expansion recently, introducing RFID-enabled inventory tracking and advanced surface treatment technologies, CTA has further enhanced its automation. “When you control fabric, you control timelines, quality, and ultimately your credibility with buyers,” Shivansh points out. The company has a production capacity of around 1.5 million garments per month. A new automated facility in Noida is expected to augment capacity by an additional 150,000 garments. It also boasts an on-time delivery rate of over 98%, which highlights its focus on reliability, an essential factor in global retail supply chains. “In exports, consistency is everything. Buyers don’t just look at capacity; they also look at predictability. “If you can deliver the same quality, on time, every time, you stay in the game,” says Shivansh. CTA exports 95-97% of its products to the European market. Shivansh says the company expects export turnover to reach about Rs 550 crore next year. CTA exports 95-97% of its products to the European market, with the largest shipments each year heading to Germany, France, Italy, Spain, the Netherlands, Poland, Sweden, Belgium, Austria, and Denmark. Shivansh says the company expects export turnover to reach about Rs 550 crore next year. CTA’s integration into global supply chains is reflected in its client base, which includes major global brands, such as Zara, H&M, American Eagle, Marks & Spencer, and Primark. Its product portfolio spans multiple categories, enabling it to serve diverse global markets. The plant processes up to 100,000 meters of woven fabric daily and around 7,500 kg of knitted fabric, moving them through advanced pre-processing, dyeing, printing, and finishing systems that meet global quality standards. Sustainability as strategy CTA is embedding sustainability into its operating model, with measurable investments across energy, water, and waste management, says Shivansh. The company has installed 1 MW solar capacity across its manufacturing units and an additional 1.5 MW at its fabric processing facility as part of its target to transition to 100% renewable energy by 2027. On the water side, its Zero Liquid Discharge (ZLD) system enables up to 90% reuse of treated wastewater, supported by a 65 KLD treatment plant and multi-stage filtration processes. It is also pushing circularity through zero-landfill practices, post-production recycling protocols and partnerships with certified recyclers, alongside efforts such as planting over 50,000 trees. “If you are not building sustainability into your operations today, you risk being excluded from global supply chains tomorrow. For us, it is directly linked to long-term competitiveness,” says Shivansh. Moving beyond manufacturing to design CTA’s transformation is most evident in its push toward digital manufacturing. Its new Noida facility is designed as a data-driven production environment where fabric inspection is automated, cutting is centralised, sewing lines are digitally monitored, and embroidery is executed through IoT-enabled systems. “We are not reducing the role of people; rather, we are enhancing productivity per person,” Shivansh says, emphasising that technology helps the firm reduce errors, improve speed, and make better decisions on the floor. This shift aligns with global trends, where brands increasingly demand traceable and transparent production processes. CTA is also investing in design capabilities, supported by Computer-Aided Design (CAD) systems and AI tools that enable rapid sampling and trend forecasting. “Earlier, exporters were reactive, wherein you waited for buyer briefs. Now, you must be proactive. If you can show design direction, you move up the value chain,” Shivansh explains. Despite increasing automation, CTA continues to invest in workforce development, having trained over 6,500 individuals and employed more than 4,700 of them. “Technology and people are not substitutes; rather, they complement each other,” Shivansh adds. CTA’s transformation has also been reflected in its recent industry recognition. The company won first prize in the Cotton and Ready-Made Garments category at the Uttar Pradesh Export Promotion Awards for 2024–25. It also received the Silver Award from the Apparel Export Promotion Council (AEPC) for achieving the highest exports to the European Union in both 2023–24 and 2024–25. "If you are not building sustainability into your operations today, you risk being excluded from global supply chains tomorrow,” says Shivansh Kansal,Vice President (strategy), CTA Apparels. Challenges Textile exporters in the country are increasingly facing pressure due to rising labour and logistics costs and stiff competition from Bangladesh and Vietnam, says Kanishk Maheshwari, Co-Founder & Managing Director, Primus Partners. At the same time, global buyers are demanding faster turnaround times, traceability, sustainability compliance and consistent quality standards, he says. For context, India’s textile and apparel exports showed modest growth in FY26 amid geopolitical disruptions and uneven global demand. According to the Ministry of Textiles data, India’s textile exports rose 2.1% year-on-year to Rs 3.16 lakh crore in FY26 from Rs 3.09 lakh crore in FY25. Within this, ready-made garment (RMG) exports, the country’s largest textile export segment, increased 2.9% to Rs 1.39 lakh crore during the year. “For textile exporters based out of regional export clusters, the challenge today extends just beyond labour costs. Global buyers are increasingly demanding faster turnaround times, traceability, and sustainability compliance with consistent quality. Exporters today also face rising wages, logistics costs and stiff competition from Bangladesh and Vietnam, which continue to enjoy structural cost advantages,” says Maheshwari. The challenge currently is to scale without losing efficiency and to invest without compromising margins, says Shivansh. “This is precisely why automation is becoming central to the future of garment exports. The sector’s next phase of growth will depend less on low-cost labour and more on productivity-led manufacturing through automated cutting, digitally monitored production systems and integrated supply chains. India’s long-term garment export outlook remains strong, but sustaining competitiveness will require a decisive shift towards technology-enabled, value-added manufacturing,” Maheshwari adds. Road ahead CTA aims to further penetrate the UK market and strengthen its presence in the EU, extending its reach into the countryside. However, it has no plans to enter the US market, as it’s currently complex due to US President Donald Trump’s uncertain and arbitrary tariff regime, Shivansh says. The company is currently investing in automation, digitally monitored production systems, renewable energy adoption, and advanced textile processing capabilities to improve productivity, turnaround times, and supply-chain reliability. Even as India’s textile exports moderated in the recent months due to geopolitical tensions and supply chain disruption, industry observers believe export-focused apparel manufacturers with integrated textile capabilities, stronger compliance standards, and faster turnaround times could continue to see double-digit growth over the medium term, subject to global demand conditions and geopolitical developments. Founder Mukesh Kansal expects CTA to remain on a positive growth trajectory, driven by capacity expansion, automation-led productivity gains, and deeper integration with global supply chains. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now!

Liotech Industries has fixed the issue price at Rs 321 per share. The IPO is a combination of a fresh issue of 9 lakh shares aggregating Rs 28.89 crore and an offer for sale (OFS) of 2.22 lakh shares worth about Rs 7.13 crore. The total issue size stands at Rs 36.02 crore. View More

The Rs 36 crore IPO of Liotech Industries will open for subscription on Wednesday and will remain available for bidding until June 19. The SME issue is scheduled to list on the BSE SME platform on June 24. Ahead of the opening, the company's shares were commanding no grey market premium (GMP), indicating a flat listing expectation based on unofficial market activity. Liotech Industries has fixed the issue price at Rs 321 per share. The IPO is a combination of a fresh issue of 9 lakh shares aggregating Rs 28.89 crore and an offer for sale (OFS) of 2.22 lakh shares worth about Rs 7.13 crore. The total issue size stands at Rs 36.02 crore. The company plans to utilise the proceeds from the fresh issue for capital expenditure towards machinery acquisition, loan repayment, working capital requirements and general corporate purposes. Of the estimated Rs 24.28 crore net proceeds, around Rs 8 crore will be used for machinery purchases, Rs 4.95 crore for debt repayment and Rs 7 crore for working capital needs. Investors can bid for a minimum of 800 shares, requiring an investment of Rs 2.57 lakh. High-net-worth investors need to apply for at least 1,200 shares, translating into an investment of Rs 3.85 lakh. The issue has reserved 50% of the net offer for retail investors and the remaining 50% for non-institutional investors. Incorporated in 2020, Rajkot-based Liotech Industries manufactures hardware structures and accessories used across housing, infrastructure, agriculture, automotive, electricity, cement, mining and solar sectors. Its product portfolio includes door kits, hinges, gate hooks, aldrop locks, handles, tower bolts and shelf supports. Live Events The company operates a manufacturing facility spread across 12,632 square feet in Rajkot, Gujarat, and also trades supplementary hardware products such as door stoppers, magnets, table brackets and bed lifters. It follows a business-to-business model and offers more than 150 product specifications catering to different industrial applications. On the financial front, Liotech has reported steady growth in recent years. For the nine months ended December 2025, the company posted revenue of Rs 51.79 crore and a profit after tax of Rs 5.49 crore. In FY25, revenue stood at Rs 40.69 crore with net profit of Rs 4.16 crore, compared with Rs 27.87 crore and Rs 2.93 crore, respectively, in FY24. Wealth Mine Networks is the book-running lead manager to the issue, while Kfin Technologies is the registrar. Aikyam Capital will act as the market maker. The allotment is expected to be finalised on June 22, with shares likely to be credited to demat accounts on June 23 ahead of the tentative listing on June 24. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times) .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our ETMarkets WhatsApp channel) (You can now subscribe to our ETMarkets WhatsApp channel)

The company intends to deploy this fresh injection of capital to aggressively accelerate its geographic expansion into new cities across the country View More

Steps need to taken in advance for increasing the demand for electricity particularly in solar hours View More

A Nuvama report estimates India’s power demand will grow at a sustained 6% CAGR over the next decade, fueled by economic growth, urbaniSation, manufacturing expansion, and increased electrification View More

As India pursues ambitious climate and renewable energy goals, decentralised clean energy solutions are emerging as a critical driver of rural transformation. View More

India's renewable energy journey over many years has been assessed using metrics such as installed capacity, solar parks, grid development, national targets, and policy commitments. While these markers are still significant, they don't entirely encompass the upcoming challenges in the nation's clean energy transition. With India's expanding economy and pressing climate goals, the focus shifts beyond just renewable energy generation capacity. The effectiveness of energy distribution to the most deserving populations, industries, and areas is also a key aspect. This is especially crucial for rural and agricultural regions of India, as energy access significantly impacts productivity, income stability, and resilience. While vast renewable energy initiatives will bolster India's national capabilities, achieving the nation's sustainability targets will also hinge on localized solutions deployed at the farm, village, household, and community levels. In a conversation with ET Digital on the role of decentralised renewable energy systems in India’s climate journey, Gopal Kabra, Founder and CMD of GK Energy Limited , says the shift is both practical and necessary. Kabra here explains that decentralised renewable energy serves as a rural development necessity, particularly for farmers and remote communities, beyond merely being an energy transition strategy. The Economic Times (ET): What role do you see decentralised renewable energy systems playing in helping the country achieve its climate and sustainability goals? Gopal Kabra (GK): Decentralised renewable energy systems play a crucial role in India’s climate journey because they bring clean energy directly to the point of consumption. For a country as vast and diverse as India, sustainability cannot be achieved solely through large power plants and transmission networks. Alongside this, we need solutions that can be deployed faster, more economically, and closer to communities at the village, farm and household level. Live Events This is where decentralised renewable energy systems, particularly solar-powered agricultural infrastructure, become highly effective. Decentralised renewable energy enables affordable, rapid electrification of remote locations without costly transmission infrastructure. Decentralised solar pumping systems have demonstrated how clean energy can reach rural India quickly while creating environmental and economic value. In agriculture, decentralised solar infrastructure reduces dependence on diesel and conventional grid power, lowers emissions, and improves energy access for farmers. It also supports inclusive development because the benefits of clean energy reach the last mile. In my view, decentralised renewable energy is not just an environmental solution; it is one of the most practical and economically sustainable development models for rural India. ET: India has set ambitious renewable energy targets for 2030. What are the key enablers required to accelerate adoption at the grassroots level, particularly in rural and agricultural communities?GK: The key enablers are policy continuity, affordable pricing, strong implementation capacity, quality equipment, after-sales service and end-user awareness. At the grassroots level, adoption depends not only on technology but also on trust. End-users need to see that the system is reliable, easy to maintain and economically beneficial. Schemes such as PM-KUSUM, Magel Tyala Saur Krushi Pump Yojana and PM-SURYAGHAR have created a strong framework for solar adoption in agriculture and households. The next step is to strengthen execution at scale through timely subsidies, efficient approvals, skilled local technicians and better awareness campaigns. When policy support, financing and on-ground execution come together, adoption accelerates significantly. ET: Agriculture remains one of the largest consumers of energy and groundwater in India. How can solar-powered infrastructure contribute to building a more sustainable agricultural ecosystem?GK: To do this, we will need a combination of solar pumps and effective water management. Of India’s over 11 crore farmers, only 2.2 crore have farm-level electricity access, and nearly 80 lakh depend on costly diesel pumps. Even connected farms face erratic power supply, often available only at night, making irrigation difficult and inefficient. Solar pumps provide farmers with clean and reliable daytime energy, helping them plan irrigation more effectively while reducing operating costs. At the same time, solarization, once combined with responsible water management, can do wonders. Technologies such as efficient pumps, smart controllers, remote monitoring through mobile app, micro-irrigation systems and groundwater monitoring can help ensure that clean energy does not lead to excessive water extraction. The future of sustainable agriculture will require both energy efficiency and water discipline working together. ET: Beyond reducing carbon emissions, what broader socio-economic impact can renewable energy solutions create for rural India?GK: Renewable energy can create a profound socio-economic impact across rural India. For farmers, reliable solar energy reduces recurring input costs, improves irrigation reliability and supports higher agricultural productivity thereby increasing income. It also reduces dependence on diesel, protecting farmers from fuel price volatility and improving profitability. One important aspect often overlooked is the multiplier effect of farmer prosperity. Most farmers without pump irrigation, depend on a single rain-fed crop earning around ₹50,000 per year. By providing reliable access to groundwater, a solar pump can enable multiple cropping cycles annually, often doubling or even tripling farm income. Here, A farmer may be looked at as a single beneficiary of a renewable energy intervention, but when that farmer’s income improves, the benefits extend to the entire family, the local community and in turn the overall economy. Better earnings lead to, higher household consumption, improved education, healthcare, livelihoods and economic activity, positively impacting many more lives beyond the individual farmer. Beyond the farm, decentralised renewable energy creates local jobs in installation, maintenance, servicing, logistics and technical support. It improves energy security, strengthens rural livelihoods and gives communities greater control over their development. It also strengthens national food security by increasing agricultural productivity and enhancing resilience during periods of disruption, including conflicts, natural disasters, and other crises. When deployed effectively, clean energy becomes a powerful tool for income enhancement, rural empowerment and long-term economic resilience. ET: What lessons has the renewable energy sector learned over the past decade, and what should be the industry’s focus areas for the next phase of growth?GK: One major lesson is that scale must be supported by quality. India has made remarkable progress in renewable energy deployment, but the next phase must focus on long-term performance, reliability and service delivery. In sectors such as agriculture, where customers are often located in remote areas, after-sales support is just as important as installation. The industry should now focus on quality manufacturing, skilled manpower, digital monitoring, faster execution, financing innovation and lifecycle service. Developing affordable solar-powered technologies that can be easily deployed in remote locations, while continuously improving existing infrastructure, is crucial to expanding energy access and driving sustainable growth. Renewable energy is no longer only about adding capacity; it is about creating dependable assets that deliver value for the next 20 to 25 years. ET: How important is energy independence at the farm level, and what impact can it have on both farmer resilience and environmental sustainability?GK: Energy independence at the farm level is extremely important. When a farmer has reliable access to power, irrigation becomes more predictable and farming decisions become more stable. This directly improves resilience, particularly in regions where grid supply is uncertain or diesel costs are high and increases individual income and improve lifestyle. From an environmental perspective, farm-level energy independence reduces carbon emissions and supports the transition away from fossil fuels. It also helps create a decentralised energy ecosystem where farmers are not just consumers of energy but active participants in India’s clean energy transition. ET: How have initiatives such as PM-KUSUM and PM Surya Ghar influenced the pace of renewable energy adoption in India?GK: Initiatives such as PM-KUSUM and PM Surya Ghar have played a transformative role in making adoption of renewable energy more accessible and aspirational. PM-KUSUM has brought solar energy into the agricultural mainstream through solar pumps, feeder level solarisation and decentralised solar generation. PM Surya Ghar has significantly increased awareness around rooftop solar and household-level energy savings. The most important contribution of these schemes is that they have transformed solar energy from being viewed as a large-project concept into a people-centric solution. They have enhanced awareness, affordability and confidence among users. Continued simplification of processes, timely subsidy disbursement and quality implementation will further accelerate adoption. ET: How can India balance the need for rapid economic growth with its environmental commitments, and what role will renewable energy companies play in enabling that transition?GK: India does not have to choose between growth and sustainability. The real opportunity lies in making clean energy a foundation for economic growth. Renewable energy can power industries, agriculture, homes and mobility while significantly reducing the environmental cost of development. Renewable energy companies have a critical role to play by building reliable infrastructure, investing in technology, creating local employment and ensuring that clean energy reaches both urban and rural communities. Sustainable growth will require close collaboration between government, industry, financial institutions and local communities. ET: How do you see India’s renewable energy landscape evolving over the next decade, and where do you think the biggest opportunities lie?GK : Over the next decade, India’s renewable energy landscape will become increasingly decentralised, digital and integrated. While large solar parks and wind projects will continue to grow, we will also see strong momentum in rooftop solar, agricultural solarisation, energy storage, green hydrogen, rural energy access and distributed energy systems. The biggest opportunities lie in sectors where clean energy can directly improve livelihoods. Agriculture is one such sector. Solar pumps, feeder solarisation and decentralised renewable energy can transform rural energy access while supporting sustainability. India’s clean energy transition will be most successful when it creates tangible benefits for both the economy and the common citizen. ET: As India advances towards its net-zero ambitions, do you believe the next wave of climate action will be driven more by large-scale renewable projects or decentralised community-led energy solutions? Why?GK: Both will be essential, but I believe the next wave of climate action will increasingly be driven by decentralised and community-led energy solutions. Large-scale renewable projects are critical for national capacity building, but decentralised systems create direct impact at the user level. When a farmer adopts a solar pump or a household installs rooftop solar, climate action becomes personal, practical and measurable. It reduces emissions, lowers costs and improves energy security simultaneously. For India, the most effective path forward will be a combination of large-scale renewable infrastructure and decentralised clean energy solutions that empower communities and drive sustainable development from the ground up. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now!

The IPO market will see limited activity next week, with only two SME issues, Liotech Industries and Leapfrog Engineering, opening on June 17. Together aiming to raise around Rs 125 crore, the offerings reflect continued investor interest in SME listings despite muted activity in the mainboard segment. View More

The IPO market will remain relatively quiet next week, with just two SME public issues, Liotech Industries and Leapfrog Engineering, scheduled to open for subscription on June 17. Together, the companies are looking to raise about Rs 125 crore through a mix of fresh issues and offer-for-sale components. While the mainboard IPO market is still muted, SME offerings continue to attract investor interest. The two upcoming issues represent businesses from distinct sectors, engineering services and industrial hardware manufacturing, and will test investor appetite in the SME segment amid a selective primary market environment. Both IPOs will close on June 19 and are slated to list on the BSE SME platform on June 24. Leapfrog Engineering Services IPO Leapfrog Engineering Services is the larger of the two offerings, aiming to raise Rs 88.5 crore through a book-built issue. The IPO comprises a fresh issue of Rs 79.6 crore and an offer for sale worth Rs 8.9 crore. Live Events The company has fixed a price band of Rs 21-23 per share. Investors can bid for a minimum of 12,000 shares, requiring an investment of Rs 2.76 lakh at the upper end of the price band. Incorporated in 2005, Leapfrog Engineering provides integrated engineering and EPC solutions across sectors such as oil and gas, pharmaceuticals, food processing and metals. Its services span electrical systems, industrial automation, fire protection systems and building automation solutions. The company plans to use the fresh issue proceeds primarily for setting up an assembling unit and meeting working capital requirements. For the nine months ended December 2025, Leapfrog reported revenue of Rs 105 crore and profit after tax of Rs 14.2 crore. For FY25, it posted revenue of Rs 137.4 crore and net profit of Rs 16.2 crore. The company said it has built a diversified project portfolio, a strong order book and a presence across multiple geographies, supported by an experienced management team. Liotech Industries IPO Liotech Industries will raise Rs 36 crore through a fixed-price issue at Rs 321 per share. The offering comprises a fresh issue of Rs 28.9 crore and an offer for sale of Rs 7.1 crore. Retail investors will need to invest at least Rs 2.57 lakh for one lot of 800 shares. The Rajkot-based company manufactures hardware structures and accessories, including door kits, hinges, locks, handles, tower bolts and other architectural hardware products. It caters to sectors such as housing, infrastructure, agriculture, automotive, electricity, mining and solar energy. Liotech operates a manufacturing facility in Gujarat and offers more than 150 product specifications. It also trades complementary products such as door stoppers, magnets and bed lifters. The company intends to utilise the IPO proceeds for machinery purchases, loan repayment and working capital requirements. Financially, Liotech reported revenue of Rs 51.8 crore and net profit of Rs 5.5 crore for the nine months ended December 2025. In FY25, it recorded revenue of Rs 40.7 crore and profit after tax of Rs 4.2 crore. The allotment for both IPOs is expected to be finalised on June 22, with listing scheduled for June 24 on the BSE SME platform. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times) .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our ETMarkets WhatsApp channel) (You can now subscribe to our ETMarkets WhatsApp channel)